visimoney
TLDR:
The UK fintech company Fintel plc has reported a 6% increase in adjusted EBITDA for the fiscal year of 2023, reaching £20.5 million. The company announced the acquisition of two companies, Owen James Events and Synaptic Software. Fintel expects its full-year results to be in line with board expectations and remains well-positioned to benefit from a recovery in the UK housing market and adjusting interest rates in 2024.
The key points of the article are:
- Fintel reported a 6% increase in adjusted EBITDA to £20.5 million in FY23.
- The company acquired Owen James Events and Synaptic Software.
- Core revenue increased by 0.3% to £56.6 million, while non-core revenue declined to £8.4 million.
- Fintel is well-positioned to benefit from a recovery in the UK housing market and regulatory requirements.
- The company plans to announce its full-year financial results on 19 March 2024.
The UK fintech company Fintel plc has reported a 6% increase in adjusted EBITDA for the fiscal year of 2023, reaching £20.5 million. The company’s core revenue, excluding mortgage brokerage and surveying services, increased by 0.3% to £56.6 million. Fintel maintained a strong balance sheet with £12.7 million in cash reserves and £69 million in available credit. The two acquisitions, Owen James Events and Synaptic Software, align with Fintel’s strategy of expanding into adjacent markets and enhancing its service platform for customers. The company expects its full-year results to be in line with board expectations and remains well-positioned to benefit from a recovery in the UK housing market and adjusting interest rates in 2024.
